Boston, MA -- (SBWIRE) -- 04/09/2014 -- Switzerland represents a very rich market. The medical equipment & supplies market is estimated to be approximately US$3.1bn in 2013. Per capita spending is the second highest in the world at US$396, just behind the USA.
The Swiss market provides high quality products and has a reputation for innovation. Domestic manufacturing is very strong, particularly in the orthopaedics sector, where Switzerland is one of the world's leading exporters.
Over the last fifteen years the Swiss medical technology sector has grown faster than almost any other sector in the country. Government technology development programmes, favourable tax rates, quality staff and research have all contributed.
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Healthcare provision is largely decentralised, and paid for through a combination of public and private insurance. Hospitals, clinics and physicians are used to investing in the latest techniques and equipment, although an increasing culture of cost awareness is spreading throughout the healthcare system.
Although Switzerland remains outside of the European Union, medical device regulations were officially aligned with European Law in March 2010. Medical technology products which include CT scans, diagnostic tests for medical implants such as pacemakers and artificial joints, are the subject of free trade between the EU and Switzerland.
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